Forex Daily Forecast, Analysis and Prediction

The British pound initially rallied during the trading session on Tuesday as word got out that Boris Johnson lost in the court system.

Gold markets went back and forth during the trading session on Tuesday, initially falling before turning back around to break towards the $1540 level.

Bitcoin markets broke down a bit during the trading session on Tuesday, for the third day in a row.

The West Texas Intermediate Crude Oil market has fallen during trading on Tuesday, breaking below the $57.50 level.

The NASDAQ 100 initially tried to rally during the trading session on Tuesday but then broke down below the 7800 level to reach through the 50 day EMA.

Natural gas markets initially rallied during the trading session on Tuesday but found enough resistance above the turn things back around near the $2.60 level.

USDCAD: Consolidation between 1.3236 and 1.3308 persists

The increase in geopolitical risk has once again boosted demand for gold.

Yesterday’s UK Supreme Court decision which ruled Prime Minister Johnson’s prorogation of Parliament unlawful has take out bearish momentum in the EUR/GBP.

USDCHF Analysis: Strong support below0.9842

The Reserve Bank of New Zealand kept its interest rate unchanged at 1.00% in a move which was largely priced into markets.

As global uncertainty roes from political issues to economies worries and trade fears, the Swiss Franc attracted safe haven demand as traders adjusted risk profiles.

GBPUSD: Consolidating below 1.25 – 1.26 area

EURUSD: Still bearish below 1.1024

Eurozone PMI data suggests that the region's economy is on the verge of deflation, which is likely to see further calls for stronger monetary policy moves from the ECB and consequently the Euro weaker for longer period.